Are there advantages to changing from in-lieu license fees to local property taxation?
There may be advantages, but each case really has to be evaluated individually. One possible advantage is that property taxes are payable in two annual installments. You also may be entitled to the $7,000 homeowner’s exemption or other exemptions administered by the County Assessor. It should be noted, however, that if you receive the homeowner’s exemption, you cannot apply for the renter’s credit on your State Income Tax return. In addition to County exemptions, you may be eligible for tax assistance and postponement programs offered by the State of California. Finally, it is important to note that mobilehomes subject to local property taxation are exempt from any sales or use tax. Therefore, you may enhance the marketability of your mobilehome by voluntarily converting it to local property taxation prior to selling it. Once you convert to local property taxation, however, you cannot revert back to vehicle license fees.
Related Questions
- If my manufactured home currently is subject to local property taxation, can I request reinstatement to in-lieu license fees?
- Are there any advantages to changing from in-lieu license fees to local property taxation?
- Are there advantages to changing from in-lieu license fees to local property taxation?
